Global Deregulation in Cannabinoid Market Sparks Flurry of Innovation From Dynamic Startups
Analysis of Derwent patent data conducted by Clarivate Analytics indicates startups in the US, Canada, and Australia are the market leaders in the research and commercialization of cannabinoids
PHILADELPHIA, Nov. 7, 2018 /PRNewswire/ -- Clarivate Analytics, the global leader in providing trusted insights and analytics to accelerate the pace of innovation, today launched the Money in the Pot report, a comprehensive analysis of patent data and activity in the global cannabinoid market from 2005 onward.
Utilizing the authoritative and accurate patent data from Derwent World Patents Index, the report explores the innovative use of cannabis and commercialization of the plant in the context of progressive global deregulation. Changes in the regulatory environment of countries like the US, Canada, and Australia act as the catalyst for new ideas in cannabinoids, particularly patents delivering innovations in cannabidiol (CBD), a key ingredient in the marijuana plant, for therapeutic and commercial use.
Mark Markley, Patent Analyst at Clarivate Analytics said: "Analyzing data provides a powerful viewpoint into innovation trends. The cannabinoid market is unique, showing an unusual pattern of sharp decrease in patent activity followed by a significant recovery. In the timeline of global cannabis innovation, 2012 is a pivot point. Deregulation in parts of the US sparked a shift in the cannabinoid market from therapeutic-centric innovations originating from large pharma companies to dynamic startups focused on delivering commercial innovations for recreational uses such as cannabis-infused sodas and vape pens."
Other key findings from the Money in the Pot report:
- Innovation in the cannabinoid sector is undergoing significant change as cannabis becomes more widely accepted by global governments for both medicinal and recreational purposes. This indicates further deregulation to be a catalyst for both innovation and commercialization.
- The pattern of patent filings in the cannabinoid space is highly unusual. It is not often we see a patent timeline with a sharp downturn followed by an equally sharp recovery.
- Accounting for over 50% of the patent activity in cannabinoids, the US sparked the recovery in the market in 2012 due to deregulations in Colorado and Washington, the first two states to legalize recreational use of marijuana. This naturally shifted innovations from medicinal to recreational patents focused on the creative ways someone can consume cannabis.
- Today, the cannabinoids industry is dominated by corporate entities with small patent portfolios, illustrating an early "wild west" market – highly competitive and not yet settled. Dynamic startups have the edge and are responsible for the commercial heart of the sector delivering innovations in CBD and devices for both therapeutic and recreational purposes.
- Cannabinoid devices, such as vape pens and vending machines strongly identifies as the key emerging technology in the sector.
Download the report here and join the conversation using #MoneyInThePotIP
About Derwent™
Derwent powers the innovation lifecycle from idea to commercialization – with trusted patent data, applications and services including Derwent Innovation, Derwent World Patents Index, Derwent Patents Citation Index and Derwent Data Analyzer. We build solutions for inventors, patent attorneys and licensing specialists at start-ups and the largest global innovators, legal professionals at the leading intellectual property practices, and patent examiners at more than 40 patent offices. Our solutions are used to monitor technology trends and competitive landscapes, inform FTO opinions, prosecute patents, monetize and license assets and support litigation activities.
About Clarivate Analytics
Clarivate Analytics is the global leader in providing trusted insights and analytics to accelerate the pace of innovation. Building on a heritage going back more than a century and a half, we have built some of the most trusted brands across the innovation lifecycle, including Web of Science, Cortellis, Derwent, CompuMark, MarkMonitor, and Techstreet. Today, Clarivate Analytics is a new and independent company on a bold entrepreneurial mission to help our clients radically reduce the time from new ideas to life-changing innovations.
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SOURCE Clarivate Analytics
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